Elon Musk’s SpaceX business has been valued at more than US$100bn after a secondary sale of shares by investors this week.

SpaceX has an agreement with new and existing investors to sell shares worth up to US$755mln from company insiders at US$560 a share, CNBC reported today.

At the price, the Tesla founder’s business is worth US$100.3bn, up from US$74bn in February, and now qualifies as a ‘centicorn’ or a business worth 100 times the value of a unicorn, which is how private companies are described when they reach a value of US$1bn.

SpaceX has been rapidly growing in both of its arms: the Starlink satellite network and Starship – Musk’s vehicle to land people and build infrastructure on Mars.

Starship has also been tasked with supplying the rocket for the next US manned mission to the Moon.

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